And now, the canary in the global economic coal mine is squawking about something else that is about to be felt around the world, negative interest rates.
by James Corbett
The International Forecaster
It has often been said (and rightly so) that Japan is in many ways the canary in the coal mine of the global economic collapse.
An utterly insane bubble of market insanity directly blown by the central bank? Check. The sudden and cataclysmic popping of that bubble? Yup.
[…] A rush to prop up the “too big to fail” banks by papering over their credit defaults with government promises (at taxpayers’ expense, of course)? Old hat to the Japanese.
An extended period of zero interest rates failing to ever deliver the perpetually promised “liftoff” from a stultifying, decades-long deflationary spiral? Been there, done that, got the t-shirt.
And a dying, shrinking, aging population facing a demographic winter of discontent from which there is no escape? It’s now official!
In every way that matters Japan has been “leading the way” for decades. “Leading the way” by showing others what a post-bubble nightmare of zombie companies and endless deflation and deleveraging looks like, anyway.